DH was left half share of his mother's house in her will with the shock proviso that his brother could live in it as long as he wanted to for free. If BIL wanted to move then proceeds to be split.
We paid the IHT due on the estate at the time asBIL had no money. His mother also owed us a 6 figure sum (undocumented) that she told us we would get back in her will - ha! BIL has told us he will never leave the house (in his late 40's). It has appreciated a lot again in value and is our only "asset" - our house has appreciated little in value (different part of the country) has a mortgage and DH dipped into our equity to pay the IHT and to make MIL loans (against my advice).
Question : If DH died then his half share would be part of his estate and I / our DC would presumably be liable for IHT on his share? If so I would be unable to pay this or the interest on a loan(if I could get one) - what would happen - would I be able to/ have to force a sale of MIL house?
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Property law question. IHT on house BIL has lifetime right to live in.
3 replies
loinnir · 22/12/2016 14:03
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